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<br /> 09131'96 16:20 FAX 808 326 7719 I OCEANSIDE 1250 00' <br /> <br /> <br /> <br /> <br /> OCEANSIDE <br /> <br /> 12 60 <br /> <br /> March 31, 1998 <br /> <br /> Honorable James Arakaki, Chairman <br /> and Members of the County Council <br /> Hawaii County Council <br /> 25 Aupuru Street <br /> Hilo, Hawaii 96720 <br /> <br /> Subject: Development Agreement, Oceanside 1250 <br /> <br /> <br /> Dear Chairman Arakalti and members of the County Council <br /> <br /> Attached hereto is a paragraph from Section 15(d)(1) of the Development <br /> Agreement between Oceanside 1250 and Hawaii County, with revised language to <br /> clarify the 25% assessment mechanism in the Keauhou area. In addition, I have <br /> attached a few pages with other suggested changes for clarification purposes. As <br /> you know, there were other changes that were presented and discussed during the <br /> hearing last night in Kona, and we assume you have these on the record <br /> To update you on the discussions between ourselves and the landowners between <br /> KIC and the Oceanside property, all of the parties have agreed to the various <br /> issues. The terms of such agreement will subject to the finalization of a written <br /> agreement between the parties. <br /> 74.5620 A Palam Road <br /> Should you have any questions regarding these matters, please give me a call at <br /> Suiw zoo 326-2966 <br /> Hailuu-Rona. Hmwwf <br /> <br /> 967401625 - <br /> <br /> <br /> aanager <br /> KProjw <br /> Tel: eo6-326-2966 BOR-3267713 CC' Barbara Hashimoto <br /> Virginia Goldstein <br /> S. Yamashiro <br /> Kamehameha Investment Company <br /> Paris & Smith Interests <br /> Allen Wall <br /> Kona Trust <br /> Attachment <br />